- vit, ?, ?
U7 T ..TtrTH
IV, .
- - "-tvr"; :f
a- '" - . ')j j T ; w r ' ' - r ,-..-?,.
"M :'Mr '" " i l t t mn. "- .,
' ,.' . .1 ."..' VT''ti" TriTA',"","' ' " ' "
ft.
V
"I .. .
GU
h'- I. . - "-T.
. v . "K
(! J3 "
-. l ! ... , ' j. U "r . V .,lf '
WV" -,:;: -T'KW : ' "." K - lv l. ... .? :.':'' ..r, ..w :-ai.
u
-'M
? "
t l
RVENItta PLt&LIO iJEDGER-PH&ilJfeLraiA, "'" M04H)A.fT, JtfE iG&to'
...,' -X '- v '. -! ,"-":-' -Vya. " w ''- ,"".'
esi n
22 , v-ti,? . i
'' r t -r 'iA i. . A. Art .,
.in-NIfi l(i. 11) -
'nnHi'iii1'!'! ....
77vT. s i
FINANCIAL NEWS CLOSING NEW YORK AND PHILADELPHIA STOCK QUOTATIONS
tf1 ;f
Canada
wviot j.it-
Chicoutimi
jpidp & Power 6s
y
A.
Trt S
X'
Due July 1943
, t Bought Sold Quoted
fed""Quotntioni on all Canadian
&
i Securities furnished on
request.
. Sturgis Macomber
-if
fan uanaautn ovcuiuy
t Specialist
A?
ff 35 WaU St., New York
Pnone HtnoTtr 6375
MERCHANTS UNION
TRUST CO.
IOND DEPARTMENT
Specializes in
FOURTH LIBERTY 4V4
COUPON BONDS
. .......... JMARKET2524
TELEPHONESJMAIN I5G2
' $5Q $100
LIBERTY BONDS
nncmiT and soi.ij
NEWS AND HIGH CALL MONEY
RATES DISRUPT BIG MARKET
Many Stocks Sell at Wide Declines in New York Call Loans
Demand as Much as 15 Per Cent
High Points in Today's Financial Neivs
Mexican news, stories of possible force to mnko Germany sign the
peace treaty and high-record rate for call money caused wide losses in
New York stock market. Curb business was fairly large, with that
market unaffected by weakness on big board. Corn advanced, and cotton
was quiet and steady. French exchange advanced. Bar silver was
higher in New York and London. International Mercantile Marine
stockholders voted against selling British subsidiaries to English
syndicate.
NEW YORK STOCK SALES
New York, .Tune 1(1. After brine unsettled during tlie greater part of
the day, because of Indications of Mexican complication, ami of the possible
demonstration by the Allies to foree the signing of the pence treaty, all
the nttention of Wnll Street was devoted to the money sltuntloii.
There as general calling of loans again nil over the Street ng n
result of payments to the Federal Keservc Hank, anil brokers experienced
trouble from enrly in the day in obtaining banking accommodation for their
security transactions.
Call money whs nt first quoted at 10 per cent, but during the afternoon
the Xutionnl City Bank sent in $5,000,000, which, according to the invari
able rule of that institution, was loaned nt 0 per cent.
This created n false impression of easiness for a time nnd there -was
moderate buying movement in the stock market, but the supply was quickly
absorbed ami afterward industrial money was in demand nt lfi per cent nnd
mixed collateral loans were quoted nt 112 per cent. This further advance In
the call money rate to n new high reeord since the organization of the
Federal Besene Hank started another selling movement on which prices in
the lnte trading in many cases dropped to new lof records for the day.
1'uited States Steel, after rnlljing from 10.191 to 104ys, had another
decline nnd Italdwin Locomotive, which had sold nt 100, dropped to SKJ'i.
Studebaker declined from t)!)7 to below 0-1, showing n loss of more than
(i points.
The stocks of corporations holding properties in Mexico were dis
turbed by the border news and those issues were pressed on the market in
large volume.
Adams Ex...
Adv Humely. .
Ajax Itub...
Alaska Old M
Alaska .tun. . .
Allis dial Co.
do pref . . . .
Am Agr Chem 107
Am licet Sug. 81 HI
Am Uosch 08 0.1
Am Can filVj fit
Am V & F Co 102a; 101
fiiiVj
High
. 01
. 4.-
. 87
, :p4
. 4i y2
no
Low
51
112
Nt
chge.
-1
Closa
51
1-2
80
'Hi-
2 -
111 n,
J9i Vi
iooy, ioo
si ;i
1)5 ;
51 .'
102!
TOW 2
12
'-H'j 3V4
no
n-nt
v.t-ti
Hlch
50
'1
18
Jxm
no
21 y,
02
00
Net
ense
uo'i
iui .m wii.. ini,
Am Druggists. 12 1
Am 11 & 1, ... :il 28
Am Int Corp.lOIl 1)0 1)0 0
Am lec Sec... 04 54 50 8
HAm Linseed ... 08 07 O-ft 1
Am Loco 82 80 S0 1
Am Smelting.. 81 78 78 3
do pref 10(1 100 100 . .
Am Sum Tob.114 110 110 3
Am Steel Pdry. H8 37 .17
Am Sugar 1112 121) 120 3
Am Tel & Tel. 10(1 10(1 100
Am Tobacco... 212 210 210 2
Am Wool 110 105 105 5
Am Wr Pup pf 40 44 41 1
Am Zinc & Ld 22 20 20 2
Am 'A & Ld pf 5S 58 58 1
Anaconda 71 00 0!) 1
Asso Dry Uds. 50 a4 48
Associated Oil. 8S 88
Atchison 08 i)fl
do pref 88 87
Atlan Coast L..102 102
Pit TREND LOIR
Biddle & Henry
104 SOUTH FIFTH STREET
.Members Philadelphia Slock Exchange.
LIBERTY BONDS
BOUGHT and SOLD
Any Denominations
R Samuel K. Philllns Si Co.
ES MAINTAINED
IN WALLST. TRADING, IN OUTSIDE MARKET
Reaction Considered Wholesome iSavold Tire Issues Are Marked
Corrective to an Overextended Up Sinclair Stocks Weak-
Speculative Debauch
est of Oil Group
v
807 niKSTNI'T STKEET
Members Philadelphia Stock Kchanrn
riXANClAT.
DKr.WVARR RAILROAII COMPANY
Rii. r NKKIK.S A. MATI'RINO 1032
iwu'u t . ii uau till n:t oittiiuu
Ktd,, , i-iwiaueiiMiia, June lain, iviif,
WWjJtl proposals will be rpried until 12
Yi'dwlt noon. Frldar. June 3?th, 1019. nt tho
j,i Huuvt oiit(.rt lur inn pule iu ijif? unucrnixneu
wrwtinmuBjonfrs 01 me ninKinx t una oroviaea
tA-Ior the redrmntlon of the bonds Issued under
F&Ji lnjQneraf ilortraire of the Delaware Rall-
:cii,toQ company, or a surxicient number of
ir-.naXA hands fn Alieorb tho sum nf SMil inn tut
m4t th lowest price not excedlnt? par. In nc
RJ5?i)rda,nca with the provisions thereof The
cionaa no 10 d purcnaspa, 11 coupon in rorm.
Ttust have all coupons maturing after July
1st '1D1V. attached and If rpclstprd mint
ibfr BCComDanted by HDnronriatp nowpm nf
HSil?rny uthorlzlnc transfer to bearer.
w Proposals must state the numbers of the
r 4 .wyw vimi . u uunun aitriHeu win ue
,j.4lm iur on anu niter JUiy iai. xuia on
U nraBntKtlnn tn Hnrv Tntnnll Troainnr
ihejLpennsvlvaniA Railroad (mpany. lloom
jwiw. roaa .qtroot.jsiauon, rmiaaeioriM, and
$ mieres-'on oonas accepta w cease July
i?1?t.,jyi0 The rlsnt to reject any and all
Mria fm riuirvH
&'j;.-7
BAMl'E REA.
Commg.tonera Sinking f'uml.
' NIITIL'K TCI IIO.MIIini.lllrKS
. KEDKMPTION OF WKSTMOREI.AND
COUNTY FUNDING IIONDS
Notles la hereby siren that the eecond 125
liOndS Of Ihft lSIUfl Of Weatmnrlnnil Pniinl
S -Fundlnr Bond and heme numbered connec-
t'Anuwi irom i-u xo s.'u. inclusive, earh or
SyisfJUrt denomination of One Thousand (11000)
Civ .wur', iraufv uij- ibl, ii.uif, lor me PUT
w v Auit.niiA ..b iiumiuik iiiuruteaneHB ana
atjleil 'Weetmoreland County Funding
.Bond." will be redeemed and nalit at ihm
rjM i ft(Be of tho County Treasurer of said Wait-
n ir.orain.i uguriiy, in in norousn 01 ureens-
ac 'iftRi iciiiiDii.uiiitt, upun yreseniaiinn or
K the aaroa .by the holdera thereof on. the lit
K:' but at July. A. D. lBin. after which all In.
B. - lereit ahull ceaaa on said nonda called.
K BERKET H. nOTD.
fc- OKO V. DEKD,
IW W. D. REA5IER.
Cnnimlaalotierp of Westmoreland County.
Orwewtiirw Pa . Mrv 27. IMP.
Special Notlcea
aQUARTRULY JIEETINO Or THE
Executive Council of the PhilarfeinMa
Kftard of Trade will be held at thalr tMm.
LSS-I" Bourne Building. Monday, June 16th.
l,i;i19, at 3:30 o'clock.
I'" V WM, rt TTTrKER S.crta ry.
Dlvldenda
Kf General Office, Reading Terminal
PHILADELPHIA. June IB. inio
Iff -Tha-ltiMirfl nf TllFOftftra Kaa ,i..i.....i .
EM'tSa-nat earnlnea a quarterly dividend of
Efi'iiMio nor rent (!) on the Second Preferred
Ki;mDC Di m -viuvixny, 10 do paid on July
iJVi 110, to atockholdera of record at the
B.o ' builness. June 24, lOlB. Check
Es'wHlrba mailed to atockholdera who hae
aV?. atlAri dividend nnkr. with v, m " .."a'e
JAY V. TTAnrr .
-?'wT.ir tfllf.f. AM UTIII1VI I.-... ....It.
JTSj BAILUUAII COMPANY "lfc
W-iV.. f . Phltftdelnhtn Hlvth rnni. , ..
:,.V nhflSJ r i. ".' ."t'.'."' .
Slorlt sales today on the New
exchaiiBC totaled 1, -150,000 shares.
Yoili
Aetna i:xploiies
Am Itrtt MfK .. .
Am Marconi
American Writing Pper
Air Reduction
Canadian Car Co
Con Car & Kdy pfd
Charcoal Iron
Chevrolet -Motor
Cramp
Curtlaa Aeroplane ...
Carwen Tool . . .
Carbon Sleel
Emerson Phonograph . .
Hendee Mftr . .
Iike Torpedo Itoat
l.ehlsh Coal Sales.
Lima Colomotlie
Maxim .Munitions .
N Y Shipbuilding ..
North Am Paper Pulp..
Otis Elevator
Peerless Motor
Poole Kntf . . , .
Scrlpps-llooth
Standard Motors ..
Steel Alio)
Submarine Hoat . . . .
Todd Shipbuilding
Trlanirle Film
I'nlted Profit Sharing
V H Steamship 7. ...
United Motora
World Film
Wright-Martin Air
STANDARD Oil.
Illinois
Ohio
Prairie Pipe
S O of Cal .
S O of N J .
H O of X Y . . . .
'Mi i Dividend of S 'per cent (1.5o per "hire!
SphaB thla day been declare! payihle on
:"..lu.iil; Mnmh is. loin t T.J.u'l??-'? 1
R-A'T,S5r1- fl slP- m," ?n th.e r"V 'nt
WU?, Tl transfer books doslnc on the "nth
n .Chocks will b mailed
fe'rv ' WM lllnni.E. Tre..,.
Proposal.
I
P.,. AUT1CK TU tuNImirKiii.
!' ITRKKl' IMPKQVKSIKNT AT SLV Hit,
aijinfeij VII.LAOK IIOU8IKO PROJKfnrll
r'KK. THK NOBHI CHESTER KlMLIYfJ?
.slaVbd propoul. will be reoewid by thi
. North ClM.ter H.alty Company at thi m5l
&ATrwGZirm:t us a"ss.r.' .
rfcrrcVnWaSareTS."'' ""'
3- Th principal Item of the. contract and a.
rlmte quantity mn a. follow."; na ,p"
-...lar, rd.: bltumlnou. m.cod.m. 29.70a
-1J.M &7aTa. UOB Ior
'llnVaTfeVt; "' wo,n
tn"-S!I ? "o. Welflem obtain
.-. offlc. o A. F. Damon. Jr.. PrailiVt
. ccr. Hancock and KiihrrnvS.
K...UI.J .k..l . nAA ..
(X,..,-f5, H. BROWN. Via, mjj.
He ; """ -'" 'V'fT.Pnj.
. fli, 11,1 j. 1 rlT. L -a,
JS60VERNMENT ALR ' OF " Rmfb
f-lajSiVjtilfU. f. o. b., Philadelphia. 6V?im
r r0,wj tept.. Burplu. Proparty Dv.. jiui:
I ftow,ll4.a Waihlnnton. 'D. C. Particular.
Is.aSrt.UbM form, ennba obtained &?,
riS.io of Zonf'ipplr offla-s. New York. So.!
Ct. a. KA.a.aUa. Da. a. a In Q T Ta ft1 arair. ' Ul
P'rflilrr
VVtI "flif.tt i-iMt fvm.. . .
E?lHFJ22 SVsrffirSK
.J o PL V",-vu success"
TSrt S-8 wheels, f. o. b. Chlcaro
'r?.KK!r,".ll..Kth
ipi;" , "--. -Tti pm forms.
.-. St. Loul.. BUJmore. PhilT.
ii! Ta'k Boaton. Refer to i5.
Xeiv York, Juno 10. The New York
nveniiiK Sun's financial review this
afternoon is as follows :
The stock market broke totlay 2 to
(! points in no great volume of transac
tions. There was a temporary rallying
movement toward the close of the first
hour, but thereafter the general level
continued to hink lower and lower until
some stiffening developed in midafter
noon. There was 110 excitement whatever in
connection with it all. On the con
trarary, the Street displayed much phil
osophic calm, seeming to feel that the
reaction in itself was a wholesome cor
rective to an overextended speculative
debauch and waiting with what resigna
tion it might for the course to be run.
The reason for the setback of lost
week and today was 10 nhrimis in
leave few in doubt and. therefore, free
01 me nervous strain which accompanies,
as a rule. 11 beclouded understanding of
market-wise influences and factors. It
is f-careely expected that a bull mar
ket can exist when money supplies are
lacking.
Iu a nutshell thnt is exactly the situa
tion at the moment. It is a question
of a limited supply of funds and a
rather insistent demand. The banks
have found that they are not equal to
the demand, quite irrespective of the
consideration whether or not it would
be a good thing to give further en
couragement to speculation. As soon
as the Victory Loan campaign had end
ed heavy industrial financing was an
nounced. Day nfter day millions of
lonns to corporations in one form or an
other were announced. There came,
at the same time, the Helgian credit for
?o0,000,000. the loan to Sweden of S25,
000.000 nnd so on.
Then followed the second payments
on wnr taxes, involving $1,000,000,000
or more. Today was the last day for
snob nnvnvnts. fllthniiph It is nrnhnhlp Houston Oil
(l.nt n.1 nni'lnnnlu ur.. n ...-n n .! f ' l1'!.'.' Rellhlng
lllllb iv"-tfc jrutiiiui- , . v ui.uu(,i. iui ,.ie 1'PtfOl
last week anil la some cases probably
earlier. The government has as jet
made few. if any, re-deposits with the
banks. Everything, therefore, seems
to conspire just now to tie the banks'
hands, hence ou top of the advances in
the call monev rate Inst week. theri
were today -renewals at 10 per cent "SntAmona'"!L.
lor mixeil collateral, and l'J per cent I First National'118
for nll-luduslrial collateral. This was 1 cioidfleid" Mera-er '
the first time since December 1010 ! Meld FfflrencV
mat tne renewal rate has advanced
above 0 per cent.
The consensus of opinion in Wall
xtreet is that, while some banks may
be taking ndvantagc of the situation to
put further brokers on the tendency .to
speculation, there is nothing like a con
certed effort to that end. Why the
banks of the Federal Ileserve system
do not avail themRelves more fully of the
rediscount privilege is one of the mys
teries of the situation, although in view
of the reserve board's general attitude,
as well as its recent request for infor
mation as to loans with government col
lateral behind them, the mystery is not
so great perhaps as for the downward
course of stock prices. The bear ele
ment, of course, is making the most of
the existing pressure.
The news of tho day was not dwelt
upon much. Talk of Marshal Foch
making preparations to invade Germany
in the contingency the enemy does not
sign the treaty and the possibility of a
renewal of the old border troubles with
Mexican bandits were indeed dampeners
to some extent and played in the hands
of the bears. ,
New
street
steady
tained.
ltroad
fahly
York, June 1C. The
curb market showed a
tone, with prices well main
in view of the sharp declines
which were recorded on the New York
Stock Exchange.
The curb market apparently n-as in
stronger position because of absence of
the heavy borrowing which is connected
with operations on the board, but which
have no place in the cash trading in
the majority of transactions on the curb,
nnd thnt market, for the present time,
indicates the real speculative situation
free from money disturbance.
INDUSTRIALS
Hid
H'i
:t
1
r.o
L'S
Nil
II
2.10
Ml)
in
a
100
4
17
1J.
7
oL'
42S
5.
82
as
30
So
Ha
r
i
113
so
Yes close
Ask (sale)
10
N
t2
3.1
BO
8
3IKI
133
1(1
.1
lit)
104
134
SO
34
';
K?
3i
30
fill
7
8
17
117
3
31
45
0 si
25.
3Vi
STOCKS
.117 183
.370 373
.2B2 208
.27(1 274
.7113 713
.303 3711
7(111
370
INDKPENDKNT
Harnett Oil & Oas ..
Commonwealth . . . ,
CoHden & Co 1. ...
Elk Rasln .'.
Federal Oil
it-
OIL
STOCKS
A 'i
r.7
ins!
( ihio Fuel
Sapulpd Itef
nequovan
Sinclair . .
Island
Cllenrock.
UK
. ?7
:::i7?sl
38
lll.
10
3tt
28
i?Sw
r.-tv,
-K
MININO STOCKS
Ills Ledge
lloston at Montuna
BYKRN'MET.-T SALE OF (NKVF)
rw. uiKn.n-ot.itq Clin.
ned 10 , m July . ItflD. at tta
rtv office, Slat it. and Oregon av"
HUB' t obtained, Rtfer ty B. p. d"
,SAR SILVER
eial.W lyer wan quolwHa
tO; .MJlUSUr.BM-fttl,
NEW YORK COFFEE MARKET
New York, June 10. "here wns nn
easier undertone at the opening of the
coffee market, with call prices below
the previous close. The Brazil cables
tfiowed no further advances there and
were at virtually unchanged prices.
Rat
ukd man i.nw tunmjt
September
Open
io!
December
January.
MarcU ., t.2T
May .... 10-10
High
20.20
10.73
1H.43
in. mi
10. m
Low
2O.10
1U.43
19.42
1 6.2.1
10.15
Close
11)9.1
19.45
19.3H
19.21
10.03
Close
20,17
10.07
Ml 7
10.38
10.28
BANK CLEARINGS
Bank clearings today compared with cor-
rr',T,S tXifc5;,'0.Sl81-
73
'I
1
4
111
Gil
II
(loldfieid Kcwanas
t irer-n Monster . .
necla Mining r
Howe Sound 4.
Independence Lead 3
Jerome Verde . i
Jim Butler 31
Jumbo Extension 10
MoKinley Darragh 2
Magma Conner S4i
Mother Lode 42
Mines Co nf America ... .S
Nevada Hills 3
Nevada Wonder A
Nlplsslnst 11
unio copper '
Rav Hercules . r
Ran Toy 9
Tonopah Extension 2H
United Verde 40H
w est t,nd Con Hi
White Cans 18
Yerington 5
in
3
3
111
nn
10
",
inn
10
att
28
27
:in
3'4
s";
0K
70
1A
44
10
nn 3-.
12 11
03 n
aa 37"4
43 43
4 ..
0
114 H'i
45 .:
lii ii
Bethlehem 7s
Cosilen OU As .
Cnprlen A Cn It.
Cudahy 7s
-tussian i.ot ,a
Russian Govt 04 a
Southern Buys .
BONDS
102U
UN
...:.. AH
. ..102U 102
. . -fn nil
. nn4 nn
. . . S3 834
10J",
HI"!
1113
47
00i
FOREIGN EXCHANGE
New York, .fune 10. The feature of
the foreign exchange market in the early
dealings was francs', which were quoted
nt 0.22 for cables nnd 0.24 for checks.
Demand sterling was quoted at 4.00
cables nnd 4.0iyt checks; lire rabies
7.00. checks 7.08; Swiss cables B.2S,
checks Ti.nO; guilder cables, 30,
clinks. .".0; pesetas cables 10.02, checks
10.85; Stockholm cables, 20, checks
2.1.80; C'hrlstianla cables 23.C0, checks
2.1. ;i0, and Copenhagen cables 24.30,
checks 24.10. Ruble notes were dull
and nominal at H.2u11.50.
In the late afternoon, French ex
change lost 7 centimes of the early ad
vance, touching (lffor cables and 0.31
for checks. Sterling was slightly
steadier at 4.00 for demand, 4.01
for cables. Lire were easier at 7.07V&
for cables and 7,00i for checks.
Vesetas were steady at 10.08 for cables
auil J0,tK).(lp. checks. Guilders were a
Atl G & W I.. 171', 1(1(1
Hald Loco Co. W) 03'i
Halt & Ohio.. WH. -I!'s
do pref .174 n7Vi
Harrett Co... 120 12S
Heth Steel 11.. W 8!Ji0
do pref ... .111
Brook Itap T. . 28 ft
Booth Fisheries 21 aJ
Butt Cop & '... 12
Buttcrick Co ... 37'i
Itutte Sup Cop 2S'"-
Caddo Cent Oil 41'4
Cal Petroleum.. :il
do pref 81 V
111
2(i's
21
12
.".4
20 'i
42
31 i
80
(14!!i
Canadian I'ac.lOl', KiOU
Certain-teedl'rd 40
Ccn Fdy Co . 21
do pref . . . . 40
Central Leath.101
Cerro de 1'asco (ill,
Chesn & Ohio 04
Chi & Alton pf 15
Chi Gt West.. !
Chi M&St I. 42
do pref .... 08 1 i
Chi & Northw.KK)
Chi Itl&Bac te 2(i4
do 0 pc pf . 0(1',-.
Cni&l'7pf pf 77
C C C & St h. 52
Chile Copper . 2,1
Chino Con Cop. 44'
Cluett Peabody 80 "
Col Fuel & I.. 47
Col Gus & Elee CA
Col & Southern 2.1
do 1st pref . . .18
Consol Gns ...100
Cont Can XU.
Cont Int Cal .. 11
Corn Products. 04
do pref
40
21
41!
05
-111
(13
15
!)
40 Vi
08
00 Mi
M
00
70
51
li4
43
80
44
53 U
2.1
58
DOVi
00
10
U--2
48T4 14
SH'A
00 1
SS
102 2
10(1 0
03 (1
50 1
57
128 5
83 1
IU ..
20 1
21
12
31 2
20 24
4 2
31 2
81 1
05 1
100
40 1
21 3
40 -3
!)5 4
50 V...
03 1
15 t
40 Vi 2
08
100 . .
Si
00
77
51..
24 1
43 1
80 0
44 1
53 1
25
58 . .
1)0 U
00 5
10..
02 21,
.107Vi 107 107
. 28
. 17
27
. 21
. 80
.115
40
.. 32
.. 83
..100
..210
,. 034
"74
-,ruL-iuiu oieei.. nun
Cuban Cane Su 34
do pref 84
Del & Hmkspn.llO
Denv & 11 G pf 8
Dome Mines... 13
Elk Horn Fuel 35
Emerson Brant-
ingham ....
Erie
do 1st pref.
do 2d pref .
Fisher Body .
Fum Plajers.
Fed M & S pr
Gaston Wins .
Gen Cigar Co.
Gen Elec Co.
Gen Motors ,
do deb
Goodrich, B 1
Granby Mining 71
Gt North pf... 1)5
Gt Nor Ore sub 40
Greene-Can Cp 42
Gulf Stntei Stl 03
Ilask & Bark 00
Int Agricul.... 2.1 Vi
do pref 81
Inspiration Cop 50
Interbor-C Cor 7
do pref 27
Int II C (new).142
Int Mer Marine 40
do pref 110
I litem! Paper.. 54
Int Nickel 20
Jewel Tea 3S
Kun City Sou. 21
Kelly-Sprngud.110 118
Kmnecott Cop. 39 38
HCeystueT & 11.101 05
Lack Steel 82
Lehigh Valley.. 53
87
32
81
110
8
13
32
28
17
1!T
20
70
112
40
32
78
100
203
02
73
70
!).1
44
41
50
5S
21
82
57
111-.
23
137
40
112
2.s,
37
21
87 2
32 2
82
110 1
8
13
34 1
28 4
17
27
20 1
70 2
112
40 1
32
70 3
100 1
204 5
02 1
73 3
70 2
05
40
41 1
50 0
58 1
24
82 2
57 1
24 3
137 2
40 3
112 1
51 2
28 1
37 1
21 Vi
118 1
38 1
05 5
77 5
53
30 1
74 1
183 3
41 2
72
30 1
1021
174
20
47 1
10
8
17 1
28 1
Close
57 2
21-1
02
17-1
00
70
Pierce Arrow
Tierce Oil .
Pitts Coal .
Pond CO.
Puuta Al Sug. 00
Pressed Stl Car 80
Pull Pal Car.. 125 125 125 -V.
By Stel Spr. . . 00 88 88 2
Bay Con Cop. 24 2n 23
Heading 87 84 85 3
do 1st pr ... 37 37 37
Hep I & S .. .80 84 84 1
Koynl Dutch .100 101 100 2
1 mi 1 1IY4 -t nn t
jw,72 1111 alio i.yj
u 0
l!) 17
0 0
20
110 new . . .
Saxon Motors
St L S F ...
Seabosrd A L
do or
Sears llocbuck.200
Stattuck Ariz . 14
Sloss-Sff S & I 03
Sinclair Oil ... 58
-2
11)
200
14
00
?4
10
17-
0 ..
10 -l
200 ..
14
00-2
52-
Southern Par.. 105 103 1031
no.
-.074
00
51
1)2
00
45
12
45
28 1
00..,
51 4
02-7
00 1
45 1
12-
40 3
Southern It It, 20
do pref 00
Strombcrg Car 55
Studebaker ... 1)0
Stutz Alotors 70
Sup Steel 47
Tenn C & dim 13
Texas & Pac. . 40
'raw..- fVi O'Cl Of I .r-n .rt
--VAU'3 .W o riUU tfou lYi
Third Ave K It 22 21 21-1
Tobacco Prod .103 1)8 1)0 34
do pref ....100 107 107 1
Union Pacific .131 130 130
lo pref 73 73 73..
Unit Alloy Stl. 50 50 50 1
Unit Cgr Strs.,153 147 148 3
Unit Fruit ...181 180 181 1
Unit By Invest 11 10 11 1
I'SCI P & F 30 ' 30 30 1
lo pref 02 02 02..
U S Express.. 27 27 27
U S In Alcohol. 140 143 143 5
U S Bcnlty... 47 45 45 2
U S Bubbcr ..110 112 112 3
do 1st pr ..114 114 114
Un Food Prod. 75 73 73 2
U S S & It... 00 05V, 05
ilo pr 40 40 40 1
U S Steel 105 103 103 3
lo l'r 110 110 110..
Utah Copper . 88 85 8.1V, 3
utan sec Uorp. 17
vu.. Will-Ill. I
0(t
10
33
11
80
117
54
10
54
33
05
88
17 1
72 2
00 . .
10
33 1
H
80
117
54
10
51 1
33 1
05 1
00 1
-2
I Philadelphia Stoclts
Net
Close chge,
50 8
45 ..
30-
45
82 1
CD 2
32
58
50
10
on
Hloh I.ow
10 Am Ice. 50 50
15 Brill ,T G 45 45
41 Cam Iron 40 '0
10 Col Fuel. 45 45
3483 E1 Stor. 84 80
150 Gen Asph 00 00
1)0 I 0 N A 32 32
100 Inspir C. 58 58
20 Key T Co
pref ... 50
080 Lk S Cor 10
10 Leh Nav 0
345 Leh Vol. 51
44 L Schuy 40
SMinehlll. 51
100 AUtlvale..
100 Mo Pac.
752 Pa It B.
00 Pa Salt.
25Phila Co
cum pf. 35 35
010 Thll Elec 2.1 25
1000 P It T tc 27 27
120 Ph Tract 00 00
20 Heading. 8Q 80
15 Ton Bel. 3- 3
25 Un Tract 30 30
130 UG I... 09 00
1705 U S Stl. 105 103 103 1
100 Willys O 33 33 33 1
180 W Cra'p.132 130 130 2
Ex dividend.
Total aale. 0083 shares, compared with
130 shares Saturday. '
48
20
40
82
50 1
10.-
CO ..
53 '53 1
40 40..
51
48
20-l
45
r
IU-4,
48 ,
20
45
81
81-
35.
25.
-80
-3-30
,
00
'
1
STOCK PRICES ARE LOWER
ON PHILADELPHIA EXCHANGE
Electric Storage Battery, Transit Certificates and Steel Mako
Up Bulk of Business Rails Are Off
M ' 1
The Philadelphia stock market today was unsettled nnd generally lower,
following n fairly steady opening, reflecting conditions on the big board. Few
issues showed activity here, however, and the bulk of the day's turnover was
made up of Electric Storage Battery, Rapid Transit trust certificates and United
States Steel common. f
Storflire Ttnfterv. i-hlnh nthiimaJ .t.n .!. i..j i.tu . ,. , .
l. . t. ---. ......... UoUU..,iU un ininc icuucrsuip, was ex aiviatna. in
lit . . . ,U mov UI n B0,,-',Iitl fraction, with the 1 per cent dividend
Moniintn.l fine inl.. b-lll,n ...-.l - .1 ... .... . u.
-......v.., ,... or,..., luuai-ii a rencusii mat carrieu the stock off for a loss
of more than 2 points, and only a small recovery occurred before the close.
lffl lAlfl THnnalr nasaflau. -llaf .a .
.i " . -"'"" vc.iiiu.uivb were siigiiiiy lower throughout the day on trans
actions totaling more thnn 1050 shares and Philadelphia Traction, after opening
unchanged, followed P. II. T. nnd yielded fractionally. The other lender, Steel,
made a-better show-ing here than In New York, selling up a trifle in the forenoon
nnd rising above the low for the day by midafternoon.
Among home stocks showing declines on moderate sales for the day were
General Asnhalt common, nff nnlnin t.u u......i - .i , .
- --- . " ...w , .juni: uuiriiur uriuru.1.1UU, Olt "to Z
i'iT 'TdJj?1' "' T?.nW!-.BeLt. wl'h " fractional
, , ; ,,"' ,x "n...u uu-ciric anu inimueipnia company cumulative pre
ferred held fairly steady, while Keystone Telephone gained 1 point. U. G. I.
was unchanged after being lower.
American Tee lind tlm vt-lrlfef t-An i. i.. i ,- . .
a trifling transaction: ' " " ""B 'D P"
lennsylvania nailroad, Heading Company and Lehigh Valley were lower
and a block of Willjs-Ovcrland yielded 1 point.
The bond market wns conornllv .1..., i.... t--i-.i t-h v i . -
, , ., . " j ji uui tmitu xvuiiivujb jnvesimcni of
gained 1 per cent.
0030
BONDS
High Low
Close
84
Net
chge.
Va 1 O & C. (10
Wabash 10
do pr A . . . .- 34
West .Maryland 12
w union Tel. . 80
West AirBke.,117
ti .-i. .hik .... uo-;i
Wheel & L E. 11
White Motors . 50
Willys Ovid .. 34
Willys Ovid pr 1)5
Wilson Co 01 "
Do pr 104 104 104
west rand M.. 75 VI 73 73 3
Worth P MprB 70 70 70
Total sales reported on New York stock
IICKer. 1.478.(1(111 -hilr-o,. ,,mr,fPu ..141.
003,000 shares Saturday,
Elf i!lvM.,.i .. .,
,,,,Tj vi.- -i' "TT'.'ncricnn i.inneeu in c
icrred. 1!; ti-isiai-nM u i i . ii,i,.-
SSl, H' "1 : Bethlehem Steel II. 14 : W M T t o
.....,..,Cii, oieei is. extra Si Amerlcnn in. ..cm..
f".rr?4on?a' 'v,0"" State. Steel nrst prc-
H.- ;, ur( company. 2: unuea
n-TSn3pa.njU?,i : South Porto Blco Sugar.
a',i nI ortoBlio sugar, preferred. 2: Cuba-
;,; .i,"r- - ! cuua-Amerlcan sugar
preferred. 14 ; American Uosch Mairneto.
i?-'.. . Anjorlean. 14; J. I. Case Cora-
Pyj prJj?ri'ed- ": Deere Company pre
ferred. 24 ; California Packlns flrst pre
ferred. 14 ; Manhattan Eiovated. 1: Has
" j13".1- Is American Bank Note
preferred. : Ilepubllo Iron and Steel pre-
.. .u, ,-,; i-ierce Arrow preierrea. -:
stromberc Carburetor. 1: Crucible Steel pre.
jerreu. i- ; Tobacco Products preferred.
17. I Liggett Jk yv-r- nrplarrl IV AA.
yf.no.num,'l' Preferred. 14: Boech Creek.
J.i!,: CH1.'- Cane Sugar preferred. IK : Loose.
JJ.Hcs Biscuit first preferred. K ; American
"ool. 14 : Amerlcnn Wool preferred. li :
umu supper, 74 ; .evaaa consolidated cop
per, h ; Kay Consolidated Copper, 4 : Utah
Copper. 14 ; Bethlehem 7 per cent preferred.
1: Bethlehem 8 per cent preferred. 2:
Electric Storage Battery, li Kelly Spring
field preferred. 14.
S1500 Am Gas
& El 5s 84 84
1000 Bald Loc
1st 5s.. 100 100 100
10000 City 4s
1045... 00 00 00 ..
, 2000 El & Pe
Tr 4s... 00 00 00
1000 Leh Nav
con4s 03 03 03..
2000 Lib Bond
4th 4s 04.20 04.20 04.20 .00
5000 Penna Co
tern cts
4s... 05
2000 Phil Elec
1st 5s.. 03
1000 Reading
gen 4s.. 83
2500 Un Itwy
Inv 5s. 71
05
03
83
71
05..
03 2
83..
71 1
Total sales. 128.000. compared with J3000
nuiuruay.
Local Bid and Asked
Buff A. Susq
do lirpf ....
American Stores
iiamwin
Brill. JO
Cramp t c
Elec Storage . .
General Asp . . .
do pref
Keystone Tel . . .
do pref
Lake Sup Corp . .
Lehigh Nav ....
Lehigh Vallev .
Lehigh Valley Tr
do pref
Penna
Phlla Electric .
Phlla Co
do 3 per cent pref 30
no 11 ner cent prer an
74
ine
Ton llel ,
Ion Mining ..,
union irac ...
U ( I ,
U 8 Steel
York Railway ,
(10 pret . . , . ,
Ex dividend
Today
Bid Ask
New York Bonds
Sales in
.1000 High I.mv Clnsa
175 Anglo-Fch 5s.. 07 07 07
7AinerT & T 5s. 01 01 01
14 Amer T & T Cs.103 103 103
4 Atchison 4s 82 82 82
7 B & O cv 4s. . 78
HBrookn Rp Tr 7s 80
1 Bordeaux fls ... 01)
3 Can Gvt 5s '31 0S
iChl & E 111 4s. 33
!
Lee It & T....32 30
Loose-Wiles .. 74 74
Lorillard P....1S0 183
Max Motor .. 40 43 Vi
do Istpr .... 74 72
do 2d pr 37 30
May De St . . 104 100
Mex Petrol . . 177 173
Miami Co Cop 27 20
Midval Stl ... 40 47
Min & StL new 17 10
Mo Kan & Tex 8 8
do pr 17 17
Miss Pocific... 30 28
do pref 55 51
Mont Power . . 77 77
Nat Acme ... 30 3.1
N Con & Cble 10 10
N Enam & Ht 74 70
do pr 102 102
Nat Lead ... 77 75
N It It of M
2d pr 8 8 8
Nev Con Con.. 18 18 18
N O T & M. 37 37 37
N Y Air Bk.115 115 115 3
New York Cent 70 78 78
N V Dock ... 30 20 20 1
do pref .... 52 52 52
NYNH & II . 30 20 30..
NY Ont & Wes 22 22 22
Norf & West. 108 108 108
51
771 1
35
10 1
72 1
102 ..
75 3
rortnern rac . i'.yj
Nova Scotia Stl 82
Oklahoma P&R 10
Ohio Gas .... 55
Ohio Fuel Sup. 51
Ontario Silver 8
Owens Bot .. 57
Pacific Mail .. 30
I'enu Seabd Stl 30
Pan Am Pet '. 01
Penn IU .... 45
reoria & East 12 1
Peo Gas & G. 52 C
Pere Mar .... 23 21
do jot pr,..,, (O 03
0.1
70
0
53
51
7
53
30
30
80
45
05
7fl0
0
54
51 1
7
53 4
30
30 ..
80 4
45
121
52
21-2
lk)
100 Chi B & Q 4s.. 0,1
SOM &StPcv 5s 88
5 do cv 4s 78
1 Col & South 4s. 80
10 City of Paris Cs. 07
.1 Comp T R C 0s. 84 Vi
5 Detroit Tun 4s S0
3 Gen Elec 5s 00
1 Intcrb Met 4s. 38
ILig & M T5s.. 03
1 Louis & Nash 4s 85
432 Lib Bond 3s
50 do cv 4s . . .'.
551 do 4s , . . .
1 do 1st 4s..
04 do2dw4s.,
1502 do 4th 4s
78
80
.!!
1)8
33
05
88
78
80
07
84
80.
1)0
38
03
83
00.00 00.40 00.48
03.00 03.70 03.70
0.1.40 0.1.20 05.30
0.1.20 0.1.20 05.20
04.18 04.04 04.00
04.30 04.10 04.32
78
80
00
08
33
0.1
88
78
80
07
S4
80
1)0
38
03
OilY2
420 Vic notes 4s.. 00.08 00.00 00.00
80 do 3b . . . . 100.30 100.04 100.04
1 Marseilles 0s. . . . 00 00
3Midvale 5s 00 00
5 Mo Pac gen 4s.. 01 01
3 Mont Power 5s. 02 02
3 NIOi M 3s 71 71
32 do 0s 00 00
1 N Y N II & II
3s 1050 ...- 54 54
4 N Y Rwy 4s 42 42
5 do" Cs ' 15 15
0 Pa 5s 1008 05 0.1
1 St L & SF ajt w I 07 07
3 do in w 1 51 51
5 So Pac cv 4s.. 85 85
8 do cv 5s 100 105 100
5 Sodth llwy 4s.. 07 07 07
00
IK)
01
02
71
00
54
42
15
03
07
51
85
04 04 04
102 102 102
80 80 80
100 100 100
80 83 85
103 103 103
7 do 5s
1 Texas Co Cs. . . ,
1 Tokio 5s
4U S Steel 5s...
3 Union Pac 4s. ,
14 do Cs
22 UK of GB'& 1
5s new 1010 00 00
5 U K of O B & I
5s 1021 ... 081ff 08Ji
0 U K of G B & I '
5s 1037 ... 00 00
Total aale.. 111. 076,000.
JO, 222,000 Saturday.,
00
08U
00
compared with
OPPOSE MARINE SALE
Stockholders Vote Against Deal for
British Subsidiaries
New York, June 10. Stockholders
of the International Mercantile Marine,
at a special meeting today, voted 530,
072 shares to 78,521 shares not to sell
the concern's British subsidiaries to a
London syndicate.
Earlier n the day Federal Judge Hand
denied 'as, application lor an Injunction
r r
Saturday
Bid Ask
73 711 73 7(1
324 34 B2 33
23 23 23 23
1134 OH UllU 1011
43 47 43 47
130 133 13J 133
hl)K 82 84 K 83
III! 71 71) 71
103 1117 1034 108
II II) 9 10
48 30 48 3D
id, , in'i 10 ion
1184 'l 08 70
32 33 63 MU
14 17 14 17
20 28 20 28
43Ji 4Si 43U 411
23 234 234 23
17 :in :ix n i
32 30 IU
35 Jl 33 S34
27 274 27$.
". 34 a 34 H
. 34 3 34 3
. 384 304 3S 34
i till WiIh UU IlllU
.1U34 11134 1004 100
. 04 104 4 104
. .12 324 32 324
COTTON TAKES DROP
AFTER GOOD START
Tight Money Restricts Trade.
' Price Changes Irregular.
Close Steady
New York, June 10. Tight rates for
money restricted operations In the cot
ton market today, following a good busi
ness in the early dealings.-
Changes in prices were Irregular, but
the finnl tone wns steady, with the
list above Saturday's close. Crop re
ports were bullish in the main, but the
South and the trtdc sent few buying
orders to the pit.
The market closed steady at a net
advance of two to ten points.
July .
August
hept.
i"ot. .
Nov. .
Dec. . .
Jan. . .
Feb. .
aiar.
Saturday's
close Open High 'Low Last
31.20 30,00 31,48 30.00 31,22
31.30 31.80 31.80 31.30 81,30
30.80 30.80,30.80 80.80 30.80
.....Ilir.H 30.40 80.03 30.23 30.00
....28.80 28.80 28,80 28.80 28.80
30.23 30.00 30.31 80.00 30.32
30.10 29.80 30.42 29.70 30.18
28.30 28.80 28.80 28.80 28.30
29.03 29.33 30.23 20.SS 29.95
GAIN IN LOCAL LOANS
4
Reserves and Deposits Lower Than
This Week Last Year
, The average condition of members of
the Philadelphia Clearing House Asso
ciation for the week preceding today is
shown in the weekly statement, with
comparisons, as follows:
ALL MEMBERS
June 16. '10 Decrease
S830.O7S.000 18,303,000
Clearing
20.787.000
110,040.000
131,300,000
BO9.1O4.O00
Loans
Exchanges
House
Due from banks....
Bank deposits
Individual deposits.
Time deposit. ....
Res. with F. R. B.
and legal deposi
taries Cash In vaults ....
Total reserve held.
Reserve required . .
Excess reserve . . . ,
3. 215,000
34,314,000
15,100,000
33.177,000
53,587.000
1.010. 000
1,104,000
2,400,000
8,021,000
3,012,000
02,000
10,74R,Ofl0
433,000
10.770,000
887.00O
10.392,000
MEMBERS, RESERVE SYSTEM
Reserve held 60.870,000 0,080,000
Excess reserve .... 310,000 8.777,000
TRUST COMPANIES NOT MEMBERS RE
SERVE SYSTEM
Reserve held 4,208,000 1,609,000
Excess reserve .. . 1,830.000 .1, 813.000
In addition to the deposits above there
were last week. 164,372,000 government de.
posits, against which no re.erve I. re
aulred.
Increase,
MONEY-LENDING RATES
' NEW YORK Money on call, mixed
collateral, opened at 10 per cent; high,
12; low. 0; last,, 12; closed, 1012;
ruling rate, 10 per cent. Industrials
opened at 12 per cent; high, 15; low,
12; last, 15; closed, 1215; ruling
rate, 10 per cent. ,
PHILADELPHIA Call, 6, per
cent; time, 5 00 per cent ; commercial
paper, three to six months, G5
per cent ; six months, 0 per cent.
DIVIDENDS DECLARED
United Drug Company, quarterly of Hi
per cent on flrat preferred and 14 per cent
on aecond preferred. Th. first preferred la
payable August 1 to .tock'of record July is
and .econd preferred September I to .lock
of record August IB.
Central Cok. and CoaJ Company, ijuar-
K'O. "' ':r..r"A"'"" "'""J." J"
l.OV V v vu.i.ii.vu, IMYKDie JU
in a. regis.. cu .... .v, .soog. ao
close,
uly
not
Pralrlo JflP Un. Company. Quarterly of
recora
IS. payable
June uu.
July 31 to .lock, at
No Change In Refined Sugars
New York, June 10. Conditions In
tho refined sugar market remained un
changed. Prices are unchangod on the
basis of 0c, less 2 per cent for cash for
fine granulated. Itaws arc unchanged
at 7.28c for 00 centrifugals. The
United States Sugar Equilization Board
made no purchases of raws on Saturday.
RAILROAD EARNINGS
COLORADO AND SOUTHERN LINES
lOin Increa.a
Flrat week June 1422.923 198.851
Prom July 1 8.S00.300 1,074,313
Oreat 'Northern .R.llwaV Company, nuar-
UNITED STATES
GOVERNMENT
LIBERTY LOAN SECURITIES
Apprm.
312
334
4
4
414
414
4i4
434
414
Callable
1932
1922
1932
1927
1932
1927
1933
1922
Approx. Yield If
Called, or If
Da. SelUns at Par
en Callable Date
1947
1923
1947
1942
1947 '
1942
1938
9 1923.
1928
3.52
3.74
'4.50
4.85
4.74
5.10
4.80
4.75
Yield t
Matoritr
3.51
3.74
4.30
4.40
4.55
4.65
4.70'
4.75'
4.85
$50, $100, $500 AND $1000 DENOMINATIONS
FULL INFORMATION REGARDING TAX FEA.
TURE3 OF THE LIBERTY LOAN SECURITIES
WILL BE FURNISHED UPON REQUEST.
MONTGOMERY & CO.
137 S. LA SALLE ST,
CHICAGO
133 S. 4TH ST. 14 WALL ST.
PHILADELPHIA NEW YORK
MEMBERS OF THK NEW YORK' AND I'HILA. STOCK EXCHANGES
GOVERNMENT SECURITIES DEPARTMENT
TELEPHONES, HELL, LOMBARD 4320) KEYSTONE. MAIN S3M
Free Brokers'
June Handbook
INVESTORS and traders about to
take advantage of the many profit op
portunities on the New York Curb Market
will want this free vest pocket guide. It
gives high and low levels for May, and
all of last year; par, capital and dividend
rates for more than 800 securities traded
in the New York Curb Market, and the
Boston, Toronto, San Francisco, Salt Lake
and Los Angeles exchanges.
Those studying
The Preat Oil Boom
should use this compact reference booklet.
There are nine facts on every line of it If you
were in Wall Street you would consult this
price guide daily. Call, phone or write today.
Free to investors and traders.
Ask for Booklet No. T. U.-485. 1
Just Out! This week's
issue of the
Investor & Trader
The dominant weekly of
the New York Curb
Market.
Copies free-to Investors and
i. Traders
JONES & BAKER
SECURITIES
Witlencr Bldg., Philadelphia
PAonet Bell, TTatnul 1690
Xtvttont.-Kacc 2290
NEW YORK DETROIT NTTSBUSOH
CHICAGO JXrtci PrivaU Win BOtTOM
COLONIAL TIRE. & RUBBER CO.
ALFRED R. RISSE
m . . J --
SO' Broadway-
Jw
SPECIALIST
New York'
TEL., BROAD 5204-52105.5206-5207-658 1-7468,,. .
'
'. J
3'
s
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U?U4a,U. jad
V.4I
i,rsswl,--)4- y-weaj auajmym
'49 , i
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IV,
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Wxv ll-'zSiSSBImSlSSimSaml
1 miwi ii
iraus1? 'm SiW3!?2miL'tffi
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